Men’s Grooming Products Market to Grow with a CAGR of 8.2% Globally through to 2028
Growing awareness of the importance of personal
hygiene, increasing disposable income are factors driving the global men’s
grooming products market in the forecast period 2024-2028.
According to TechSci Research report, “Global Men’s
Grooming Products Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Men’s Grooming Products
Market stood at USD 201.6 billion in 2022 and is anticipated to grow with a
CAGR of 8.2% in the forecast period, 2024-2028. The Changing attitudes towards
masculinity, more disposable income than ever before, which they are spending
on grooming products and other lifestyle-enhancing goods, Men are becoming more
aware of the importance of personal hygiene and are taking better care of their
skin, hair, and bodies. this is leading to increased demand for grooming
products such as shaving creams, moisturizers, and hair styling products.
Several factors contribute to the growth of various vitamin supplement
products.
The men's grooming products market is expected to
continue to grow in the coming years, driven by the factors mentioned above.
Companies in this market are focusing on developing innovative products that
meet the specific needs of male consumers. They are also expanding their
distribution channels to reach more consumers.
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Grooming Products Market”
The need for skincare products is anticipated to
increase as men's skin concerns such as sensitivity, ageing, inflammatory
diseases, acne, and dryness grow. As a
result, major companies are introducing goods to meet the need of customers
with severe skin disorders. For instance, Denver entered the advanced men's
grooming market in March 2022 with the introduction of a new line of
scientifically supported products. Body wash, beard oil, and a beard comb are
among the items in the new and improved catalogue. In the upcoming years, new
product introductions will also contribute to broadening the market's reach.
Males are choosing natural grooming products over companies that use chemicals.
In recent years, there has been an increase in demand for products that are
risk-free, all-natural, organic, and devoid of animal testing. For instance,
Bella Vita Organic's parent business, IDAM House of Brands, announced in July
2021 the launch of BRAVE Essentials, a new direct-to-consumer (D2C) skincare
and grooming brand featuring products made with only natural components and no
harsh chemicals. The premiumization of the market for men's grooming goods and
the rising importance of clean-label ingredients are to blame for the high cost
of organic men's grooming goods.
Additionally, it is anticipated that the
rising number of inventive brand launches to satisfy customers' growing product
need would further drive market expansion.
For instance, Cavin Kare will join the men's grooming industry in
September 2021 with the introduction of the personal care brand Biker's. To
cater to the needs of the urban male, the brand's product portfolio comprises
2-in-1 shampoo-conditioners, beard oil, beard cream and shower gel. According
to reports, the company is concentrating more on the mass market and aiming for
the burgeoning markets for body, face, and hair care.
The Global Men’s Grooming Products Market is segmented
into type, product type, distribution channel, regional distribution, and
company.
Based on type, In 2022, the skin care
sector dominated the market with a share. Over the years, the demand for men's
skincare products has been driven by guys' rising awareness of personal hygiene
and grooming across the globe. In January 2020, 83% of men aged 65 and up felt
that men need to take their skin care seriously, according to a Tiege Honley
article. Furthermore, global demand for men's skincare products is being
boosted by macro-level reasons like increased consumer disposable income and
exploding distribution channel growth.
Based on region, North America segment is expected to
grow during the forecast period. North America, including the United
States and Mexico, has embraced the importance of healthy eating amidst busy
work schedules. Consumer demographics are shifting, leading to an increased
demand for a wide range of vitamins and supplements in these countries. Fish
oil and calcium supplements have gained popularity among consumers, driving
market growth in the region. In European countries, an aging population and
higher consumer spending on health and wellness products are fueling the demand
for vitamins and supplements. However, the market in this region is subject to
strict government regulations.
In 2022, the supermarkets and
hypermarkets segment held the majority share. The increasing customer
preference for using supermarkets and hypermarkets as their major source for
purchasing cosmetics and personal care items is the main factor driving the
segment's rise.
In 2022, Asia Pacific dominated the
market and had a revenue share. Consumers' growing awareness of the importance
of personal care is a major driver of this expansion in the area. As men of all
ages' skincare regimens have grown more complex over the years, numerous
businesses have emerged to meet the unmet requirements and rising demand in
this industry.
Major companies operating in Global Men’s
Grooming Products Market are:
- Beiersdorf AG
- Procter & Gamble Co.
- L'Oréal SA
- Shiseido Co., Ltd.
- Vi-john Group
- Colgate-Palmolive Company
- Kao Corporation
- Estee Lauder Companies, Inc.
- Reckitt Benckiser
- Coty, Inc.
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“The men's grooming market has witnessed remarkable
growth in recent years, fueled by changing societal norms, increased awareness
of personal appearance, and a surge in grooming product innovation. Men are now
more open to embracing comprehensive grooming routines, leading to a broader
range of products tailored to their specific needs. Additionally, the rise of
e-commerce and digital marketing has made grooming products easily accessible,
while sustainability and personalization trends have further accelerated market
expansion. With consumers prioritizing self-care and grooming, the men's
grooming market is expected to continue its growth trajectory in the
foreseeable future.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Men’s
Grooming Products Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, Segmented By
Type (Skin Care, Hair Styling, Shave/Beard Care, Accessories, Color Cosmetics),
By Product Type (Shaving Foams & Gels, Trimmers, Shavers, Shavers &
Clippers, Razors & Cartridges, Oil, Gel & Wax, Others), By Distribution
Channel (Hypermarkets/Supermarkets, Departmental Stores, Online, Others), By
Region, By Competition, 2018-2028”, has evaluated
the future growth potential of Global Men’s Grooming Products Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Men’s Grooming Products Market.
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